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MOSCOW, July 31 The surge in the wholesale price of AI-95 gasoline in Russia was seasonal, now additional volumes have been sent to the exchange, said First Deputy Head of the Ministry of Energy of the Russian Federation Pavel Sorokin.
«There has indeed been a surge in wholesale prices for 95-grade gasoline in the last few weeks, in July. At the moment, over the last week, thanks to measures taken by both companies and the government, the Ministry of Energy, and the FAS, this surge has been suppressed and the price has been falling in the last few days. Additional volumes are now being sent to the exchange,» Sorokin said in the State Duma.
» The temporary surge that we observed is normal for this time of year. The main thing here is that the market was and remains fully supplied (with fuel — ed.),» he added.
According to Sorokin, the situation with prices at gas stations “is absolutely stable, there is no doubt that it will remain so.”
The price of AI-95 gasoline on the St. Petersburg International Mercantile Exchange (SPIMEX) has been growing rapidly this summer, approaching a historical record of 76,876 rubles per ton, which was reached on September 7, 2023. In recent days, the price has begun to decline.
Russian Deputy Prime Minister Alexander Novak said in early July that the situation on the Russian fuel market was stable, with the exception of AI-95 gasoline. According to him, measures are being taken to stabilize prices and they will be sufficient. Thus, from August 1, the ban on gasoline exports from Russia will be renewed, and the Russian Ministry of Energy is also working with businesses to increase fuel production volumes, load oil refineries, and ensure the transportation of petroleum products.